Protests shut 33 bank branches in Tirana and Durrës; economist Sefa: damage up to 10 million euros

Several banks have limited in-person service in Tirana and Durrës because of the student protests continuing in the capital. According to the banks' public announcements, compiled by ATSH (the Albanian Telegraphic Agency) on Monday evening, 33 branches have been temporarily closed, while 27 others are operating on shortened hours.

Banka Kombëtare Tregtare closed 12 branches in the capital and directed customers to electronic services. Raiffeisen Bank closed five branches in Tirana and OTP Bank two, while moving eight others to reduced hours. ABI Bank said eight branches are open until noon, Credins shortened hours at six branches and closed one, Union Bank closed three branches, and Intesa Sanpaolo imposed restrictions at some locations, with service until 1 p.m. Fibank suspended service at its branches near the Twin Towers and the Faculty of Natural Sciences, while ProCredit said it is operating normally.

Union Bank also announced that cash withdrawals from ATMs nationwide, including those of other banks, will be free of charge. The banks stress that the closures are security measures and that operations have not been interrupted, since payments and transfers can be made through apps, internet banking and ATMs.

Who pays the bill

Economist Ergis Sefa, speaking on Vizion Plus's “7 pa 5” show, estimated that the damage to businesses, including banks, could reach 10 million euros for the week of protests. He said this figure includes not only physical damage but also lost turnover, taxes and the wages that businesses continue to pay during closures.

Sefa warned that the biggest risk is panic, not the loss of savings, since money in the digital system is not affected. He claimed that only about 4% of businesses in Albania are insured and that, in the end, the costs will be borne by citizens, including through higher bank fees in the future.